BBVA pays $300 M for 21.7% of Neon Payments Limited; it already has an indirect 10.2% stake in Neon

BBVABBVA buys 21.7% of Neon Payments for $300 M

Norbolsa | BBVA has reached an agreement with Neon Payments Limited to acquire approximately 21.7% of its capital. The deal will be clinched via a capital increase and a payment from the Spanish bank of around $300 million. The Company, set up in the UK where it also has its headquarters, fully owns the Brazilian company Neon Pagamentos S.A. As of the date of this communication, BBVA is already the owner of an indirect approximate 10.2% stake in the Company. It is expected the subscription to the shares and the payment will take place during the month of February 2022. The subscription to the shares will mean a consumption of 10bp of CET1FL.

Opinion: the payment business is one of those which currently holds more interest for the sector on an international level. And one where we expect to see more acquisition deals.